Good morning, everyone and welcome.

John Richardson, thank you for that warm introduction. It’s great to see you again sir.

CNO Greenert, Flag and General Officers, Senior Executives, Sailors, civilians, and industry partners it’s an absolute honor to be here representing our United States Navy team.

This room represents something powerful. Not capability. Not capacity. Commitment. Commitment to a shared vision of ensuring that the United States Navy remains the world’s premiere undersea force.

And what a great event this is, bringing together our industry partners from across the globe to get after our Nation’s most pressing imperative – communicating the strategic value of the United States Navy Submarine Force and revitalizing our industrial base.

Without this passionate group of Americans, our Navy would never leave the pier our submarines could not submerge below the waves, and our nation would surely be less secure from strategic attack.

We should all be rightfully proud of our Navy, but even more important, our Sailors and how they have performed so bravely and professionally during Operation EPIC FURY.

On Tuesday, a U.S. submarine sank an Iranian warship — the first time since World War II that a U.S. submarine has sunk an enemy vessel— underscoring the capability, readiness, and strategic value our Navy and our industrial partners deliver every day.

Last month, I unveiled our Navy’s newest strategic guidance – the United States Navy Fighting Instructions.

You might have read it, if you haven’t, I encourage you to do so.

In its simplest form, the U.S. Navy Fighting Instructions provide a conceptual framework for modern warfare delivering homeland defense, sustaining our global network of deterrence, and preserving our national prosperity.

It is our overarching guidance that outlines which investments matter most, the asymmetric capabilities we need to forge, and the requisite levels of technical mastery that will enable our Sailors to fight and win across the spectrum of conflict.

Underpinned by my priorities of the Foundry, the Fleet, and the way we Fight the United States Navy Fighting Instructions chart a course for the future of our all-domain fleet and answer the daunting question that will define modern naval warfare for decades to come:

“How do we ensure we can fight and win across the spectrum of conflict, under conditions we cannot entirely predict against adversaries who are increasingly capable, innovative, and aggressive at near parity levels simultaneously in key areas of vital national interest around the world?”

This morning, I’d like to give you a clear understanding of that vision – not as theory, but as clear direction you can act on.

As I was thinking about the message that I wanted these Fighting Instructions to convey, it was important for me to take a step back and understand what functions and capabilities our Navy uniquely provides and to which stakeholders?

As CNO, I have a lot of jobs, but perhaps at the top of the list is the need to communicate the value proposition of why our Navy matters – to the Joint Force and to the Nation.

I believe that idea shapes the core of any organizational strategy, which comes down to defining, highlighting, and conveying our differentiated value.

So, what is our differentiated value?

From the perspective of the American people:

Our Navy assures homeland defense, delivers global stability and deterrence and safeguards maritime trade – nearly 70% of which moves by sea – that underwrites our prosperity.

From the Joint Force’s perspective, we provide seven indispensably unique missions. We deliver:

Sea control and sea denial
Maritime security
Tailored deterrence
Global replenishment across contested environments
Freedom of maneuver
And power projection over the horizon with precision and mass.

The bottom line is this, no other Navy no other Joint or Combined Force in the world can do what we do.

And, ladies and gentlemen, there is no doubt that our Submarine Force is central to everything we do.

Whether it’s holding key terrain and objectives at risk, enabling freedom of maneuver for our all-domain Fleet, or setting the conditions for deterrence long before the enemy strikes the Submarine Force is baked into the core of every operational plan we own.

They create space for diplomacy to work and provide the insurance policy, should our global network of deterrence fail.

When crisis erupts or conflict breaks out, while you may hear calls for the nearest carrier strike group what you won’t hear is the call for the nearest submarine.

Because it’s already there. Postured, ready, and poised to strike.

It is unmistakably clear that to sustain our undersea dominance, we must continue leaning into our most prized advantage submarines that are flexible, lethal, and powered by world-class technology in order to leverage every ounce of our payload volume.

That’s why you’re here. That’s why your work matters. You’re not just building systems – you’re enabling deterrence and defending our democracy.

Once you understand why our Navy matters, only then can you define what or as I like to call it, the “special sauce” our Navy must sustain and deliver.

Which, in turn, is the answer to our problem and by way of the Fighting Instructions takes the form of the core implementation concept – a full-spectrum Hedge Strategy.

Hedge Strategy will be implemented through a series of initiatives that combine to enable a fleet which can learn, adapt, and counter our adversaries by optimizing and force multiplying at scale.

While Hedge Strategy may sound novel, the idea of a hedge is not.

Consider our various submarines.

As the pinnacle of our nuclear triad, they are our country’s hedge against strategic attack. Our hedge against denied access environments. And, our hedge against uncertainty in a peer-to-peer fight.

SSNs enable strike and ISR capabilities. SSBNs underwrite our most survivable strategic deterrent. And our SSGNs deliver overwhelming fires with precision and mass with unmatched special force insertion capabilities.

Together, they are the backbone of our Nation’s warfighting advantage.

And when combined with a thoughtful Hedge Strategy, we will more effectively leverage and accelerate these facts.

The Hedge Strategy is designed to balance cost-effective, scalable, risk-worthy mass with the most advanced multi-mission platforms we can build and sustain while avoiding a brittle, single-purpose force that is either over-built for the high-end fight and under-used day-to-day or optimized for low end crisis and overmatched when it counts.

Building a Fleet to cover every pressing scenario is not only cost and risk prohibitive but a disservice to the taxpayer and less effective operationally.

In our rich 250-year history, seldom have we built, designed, and generated a force that was employed exactly as we intended.

If history has taught us anything, its that forces designed for high-end warfare are most likely to be employed for low-end scenarios and contingencies.

By design, the Hedge Strategy is intended to be a force multiplier to our general-purpose forces working in concert with the Sailors and platforms of our traditionally manned fleet.

But, the challenge becomes determining where to snap the chalk line how much of each force element is truly enough?

That is what Hedge Strategy aims to do.

It buys down risk in some areas, shifts risk to others but in the end it unabashedly embraces risk to tip the scales in our advantage.

To achieve this end, we must buy, field, and posture, ready capabilities Tailored Forces and Tailored Offsets to address specific situations that are too consequential to ignore but too unlikely to drive our overall fleet design.

As a whole, these tailored ensembles are scalable formations that manage risk, expand mass, force multiply, improve response options, and preserve our combat advantage.

Tailored Forces are the composite packaging of Tailored Offsets certified to address specific missions, in particular regions.

They include general purpose units from the main battle force – surface combatants, patrol aircraft, and submarines – for deployment and command and control.

Whether it’s conducting anti-submarine warfare in the North Atlantic clandestine mine warfare across critical chokepoints or supporting fires off the coasts of foreign shores tailored forces with tailored certifications will allow our Navy to hedge against the likelihood of any threat without constraining our force design around a single pressing scenario.

Tailored Offsets are systems and platforms that are the easiest to adapt and combine.

They are capabilities like:

Attritable and easily replenishable USVs
MUSVs designed for scouting, screening, and striking
UUVs for water space denial, survey, and mine warfare
And low-cost, high-volume interceptors for counter-drone defense

Together, these tailored capabilities will amplify and complement the main battle force through lethal outputs that are scalable, deployable, adaptable, and cost-effective.

It’s in this line of effort where I expect you, our industry partners – traditional and non-traditional vendors alike – to move fast, iterate aggressively, and help us scale these packages at speed.

Earlier this week, I had the opportunity to engage the Submarine Industrial Base Committee and our partner submarine suppliers – a team of dedicated men and women who understand the importance of a strong and resilient industrial base as a matter of our national defense.

Like you, they too stem from what President Franklin D. Roosevelt coined the “Arsenal of Democracy.”

The same arsenal that enabled our forces to fight across two oceans during World War II.

And, the same industrial base that repaired our most decorated aircraft carrier, the USS Yorktown, after the Battle of the Coral Sea.

Battle worn and torn, when Yorktown limped back to Pearl Harbor in May of 1942, engineers estimated months of repair but with the Imperial Japanese Fleet steaming towards Midway, time was not a luxury we could spare.

Fleet Admiral Chester Nimitz was among the first to inspect the damage. After surveying her twisted metal and torpedo laden scars, he turned to a nearby technician and commanded a simple order: “We must have this ship back in three days.”

The reply he heard was just as simple: “Yes, sir.”

The Arsenal of Democracy roared into life.

Fourteen hundred workers flooded the pier.

Around the clock they measured, cut, and welded massive plates of steel over the gaping wounds in Yorktown’s hull.

What had been estimated to take months of repair was accomplished in a mere number of days 72 hours to be precise.

That didn’t happen by accident. It happened because America was ready. We were focused. The infrastructure was in place. The supply chains were primed. The workforce was trained. And industry competed hard – and collaborated even harder.

On the third day, Yorktown shoved off for Midway, welders still finishing their work as she slipped past the harbors edge – tenders guiding her until they could no longer keep pace.

By the end of the war, in just five years, American shipyards had not only repaired and refitted a battle-worn Fleet – they had forged an entirely new Navy more than 140 aircraft carriers, 8 battleships, 807 cruisers and destroyers and over 200 submarines.

That was the Arsenal of Democracy at work.

That was American industry operating at flank speed. Driven, dedicated, and determined to win.

And that, was the Navy’s foundry forging our victory.

That story means something. It’s illustrative to how I view the world. Since taking office in September, my slogan has been “Built in the Foundry, Tempered by the Fleet, and Forged to Fight”.

My priorities of Foundry, Fleet, and Fight are not just words but a framework for action forging our total workforce in the Foundry ensuring the Fleet is properly prepared and most importantly, ensuring our forces are ready to Fight.

They expound upon Secretary Phelan’s priorities his number one of which being “a renaissance of shipbuilding” and emphasize the need to view everything we do through an operational lens.

Every investment we make, every policy we produce, and every strategy we employ begins in the Foundry.

It is the bedrock of our Navy and is comprised of three enduring pillars:

First, People – our total workforce of Sailors, civilians, artisans and engineers.

Second, Infrastructure – our American-made facilities, installations, dry-docks, and piers where the fires of the foundry are passionately stoked.

And third, Materiel – steel, munitions, raw earth materials, semiconductors, warheads, and heavy lift machinery.

Every ounce of combat power we wield begins here.

But, for too long, the Foundry has been the bill payer of our Fleet.

We mortgaged our long-term readiness for near-term operations. Optimized our supply chains for peacetime efficiency – prioritizing a “just-in-time” model that’s ill-suited for the “just-in-case” reality.

We deferred years of maintenance and investments – reducing our shipyards, munitions factories, and installations to hollow shells of their once great capacity and scale.

As such, the result has been nothing short of an accumulation of risk along a decay curve that has been hidden from view by “get ‘er done” leaders for decades.

When I joined the Navy over forty years ago, our industrial base was producing five to seven submarines per year - both Los Angeles and Ohio-class submarines.

Today, we are delivering at a rate of 1.2 when the minimum should at least 2.3.

Let that sink in. It should be unsettling to all of us in the room.

While we try to soften that number by talking about tons of submarine delivered – we don’t deploy by ton – we deploy by a full up round unit of force.

Let me be clear, I’m not pointing fingers – what I am doing is pointing forward. Because for me, industry isn’t just a vendor, they’re a strategic partner and partnership cuts both ways.

No one here is singularly responsible for our current state of affairs, but together we are accountable for learning, improving, and executing at pace. Each of us holds ownership in that goal.

For the Navy, what we owe industry a clear demand signal with stable budgets that are signed into law on time. Clear priorities, consistent requirements, and timely decisions because delays and indecision, or more simply said – doing nothing – inserts high risk too.

Look at where we are in time. Between Virginia Class VPM Block V, Columbia, and AUKUS our nation’s demand signal is clear: America needs more submarines. Certainly, the National Defense Strategy recognizes that need.

It’s incumbent on us to deliver.

And, I fully acknowledge that these challenges aren’t easy to solve. We’re not just building aircraft or ships we’re building multi-billion-dollar submarines with extraordinary complexity and sophistication.

Submarines designed to withstand thousands of pounds of force across the hull in silence, undetected, while carrying the weight of our nation’s security imperatives.

Our challenges are not undefined, but they are deep-rooted, complex, and systemic. Further, we did not accumulate these challenges overnight and we won’t get back “on plane” of production without a Herculean level of teamwork, focus, and across the board improvement.

Whether it’s workforce gaps, retention challenges, and supply chain fragility or infrastructure strain and sole-source choke points all of these issues will all take time to correct with enduring solutions.

I am eyes wide open when I say that the United States Navy and adjacent Industrial Bases must accelerate now and operate on a wartime footing.

A wartime footing means combat effectiveness over comfort, speed over bureaucratic perfection, a strong and resilient supply chain that can deliver on demand, and prudent risk calculations today to avoid catastrophic risk later.

It means leaders at every level are empowered – and expected – to act with initiative, creativity, and urgency.

Because deterrence only works if it’s credible and that credibility originates in the Foundry.

So, my charge for you today is this whether you’re in a uniform or a suit, I want you to ruthlessly challenge the status quo. Challenge our paradigms and our underlying assumptions.

Funding alone doesn’t solve culture; it requires a willingness to embrace collaborative partnerships partnership where competition spurs innovation and innovation drives our competitive edge.

When it’s all said and done, we either win as an effective warfighting ecosystem or not at all.

To our primes and traditional vendors – the companies that have carried this mission for decades on end – our Navy remains grateful for your service.

But we need to diversify our portfolio – welcoming in non-traditional vendors and new marketplace entrants: advanced manufacturers, tech start-ups, organizations that embrace new additive and subtractive manufacturing processes, AI-enabled logistics, more robotics and autonomous innovators and commercial disruptors who have never built a single component for a submarine but know how to solve hard problems.

Too little too late isn’t good enough. We can’t afford to be narrow-minded in our processes or slow to adopt change.

That means broadening our supply shelves, reducing single points of failure, improving reliability, and creating pathways for small businesses to punch higher than their weight class and break into the industrial base sphere.

This is not about replacing anyone; it’s about strengthening and empowering everyone.

As I begin to close, let me end with this.

Admiral Hyman G. Rickover once said and I quote: “The great end of life is not knowledge, but action.”

Action is the standard. Action in workforce development. Action in expanding supplier networks. Action in modernizing facilities. Action in eliminating bottlenecks. And action in challenging old assumptions.

There will come a day when our sons and daughters submerge below the waves, a new generation of apex predators, in submarines forged by your hands and built by our Nation’s greatest intellectual minds.

They will trail our adversaries, they will underwrite our strategic deterrence policy, and they will operate at depth in the most perilous environments on Earth.

And, when that day comes, they won’t care about our excuses.

They will care that their kit works. Their kit can be sustained. And, that their kit is lethal. And they will care that their submarine is full up round and ready to fight.

As Admiral Rickover reminded us, the future belongs to those who act.

The time for action is now not later and we must do so with urgency, discipline, and results.

Our Navy requires it. Our Nation demands it. And for the American people, we will follow through.

Thank you.